Friday, August 23, 2013

Very Early Indications

Because of the gaping hole that was suppose to be NASDAQ trade data, it's going to take 3C a little bit to basically create a new strand in many of those stocks, however from the late afternoon update yesterday,

"As for tomorrow, it's mostly 1 min and an occasional 2 min chart that are negative in to the close, I'd expect some early weakness off that to be faded to the upside later in the day."

That's exactly what we are seeing thus far...
 This is the 1 min negative divergence from yesterday afternoon effecting a.m. trade as suspected yesterday

 The SPY 2 min chart was in line, this morning it has a slight negative divergence in that it's not confirming the opening gap.

 The 3 min chart hasn't seen much damage, that's a very small relative negative divergence, I wouldn't even bother posting it otherwise.

Then our 10 and 15 min (above) leading positive divergences which are the "probability " of a bounce that started yesterday, look perfectly fine thus far.

It's still early and I dislike a.m. trade as it's full of games and there are many other indications to look at as they develop, but thus far there's really no surprises here at all.


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